Hardwyn India Limited (HARDWYN)
₹9.05 -0.11% last close, 23 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Hardwyn India's revenue was ₹34.6 Cr (-19.4% year on year, -39.5% on the previous quarter), and net profit ₹2.8 Cr (-22.9% year on year); the operating margin was 13.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹34.6 | -19.4% | -39.5% |
| Operating profit | ₹4.5 | -20.9% | -21.5% |
| Net profit | ₹2.8 | -22.9% | -18.4% |
| EPS (₹) | 0.06 | -14.3% | -14.3% |
| Operating margin | 13.0% | — | — |
HARDWYN delivery percentage
NSE end-of-day data for
On Fri, 23 Oct 2026, 72.55% of the HARDWYN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 65.42%. That is close to its usual level.
Delivery in the last 5 sessions: 89.6% · 77.1% · 57.8% · 68.5% · 72.5%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Hardwyn India's Board reviewed a fine of Rs 3,25,000 (plus applicable GST) levied by the NSE and BSE for non-compliance with Regulation 17(1) of SEBI LODR during Q1 FY27 (quarter ended June 30, 2026). The non-compliance stemmed from board composition changes after the resignation of Non-Executive Director Ms. Tanya Sayal on June 5, 2026. The company stated it has restored compliance following the appointment of Mr. Eakam Sayal as Additional Director on August 29, 2026, and intends to seek a fine waiver from the exchanges. Additionally, the company confirmed paying an earlier fine for non-compliance related to the quarter ended March 31, 2026.
- Stock exchanges levied a fine of Rs 3,25,000 plus GST for Regulation 17(1) non-compliance during Q1 FY27
- Lapse initiated after Non-Executive Director Tanya Sayal resigned on June 05, 2026
- Board composition restored following appointment of Additional Director Eakam Sayal on August 29, 2026
- Company confirmed payment of a prior fine for the quarter ended March 31, 2026, and plans to seek a waiver for the Q1 FY27 fine
Hardwyn India Limited has obtained a 3-month extension from the Registrar of Companies (ROC), Delhi, to conduct its Annual General Meeting (AGM) for the financial year ended March 31, 2026. The AGM was originally due by September 30, 2026, but the company requested postponement on September 3, 2026, citing the resignation of its Secretarial Auditor. The ROC approved the extension via an order dated September 15, 2026, while advising the company to ensure future compliance. The revised date for the AGM will be announced separately.
- Extension granted for 3 months to hold the FY26 AGM beyond the original due date of September 30, 2026
- Application filed with ROC under SRN AC5821693 on September 3, 2026
- Reason cited for delay is the resignation of the company's Secretarial Auditor
- ROC issued an advisory to the company to remain careful and ensure timely compliance in the future
Hardwyn India Limited has appointed Mr. Eakam Sayal (DIN: 11916539) as an Additional Director in the Non-Executive, Non-Independent category effective August 29, 2026. Mr. Sayal is the son of Managing Director & CFO Rubaljeet Singh Sayal and is currently pursuing an undergraduate degree in Business and Finance at UC San Diego. His appointment is subject to shareholder approval at the upcoming Annual General Meeting. This represents a routine promoter-family board induction without immediate operational or financial impact.
- Appointment of Mr. Eakam Sayal as Additional Director (Non-Executive, Non-Independent) effective August 29, 2026
- Term valid up to the date of the ensuing Annual General Meeting, subject to shareholder approval
- Profile discloses he is currently pursuing an undergraduate degree in Business and Finance at UC San Diego
- Related party disclosure confirms he is the son of MD & CFO Rubaljeet Singh Sayal
Hardwyn India Limited reported a weak start to FY27, with consolidated revenue for Q1 (ended June 30, 2026) falling 19.4% YoY to ₹34.60 Cr compared to ₹42.94 Cr in Q1 FY26. Net profit also declined by 22.9% YoY to ₹2.80 Cr from ₹3.63 Cr. Sequentially, the performance was even more subdued, with revenue dropping 39.5% from ₹57.15 Cr in Q4 FY26. The Architectural Hardware segment remains the core business, contributing 80.8% of total revenue, while the Aluminium segment contributed the remainder.
- Consolidated Revenue from operations decreased to ₹34.60 Cr in Q1 FY27 from ₹42.94 Cr in Q1 FY26.
- Consolidated Net Profit for the quarter stood at ₹2.80 Cr, a decline from ₹3.63 Cr in the year-ago period.
- Architectural hardware and Kitchen fittings segment revenue was ₹27.96 Cr for the quarter.
- Aluminium and Allied Products segment contributed ₹6.64 Cr to the consolidated top-line.
- Consolidated EPS for the quarter was ₹0.06, down from ₹0.07 in Q1 FY26 and ₹0.27 for the full year FY26.
Hardwyn India Limited has announced the immediate resignation of its Secretarial Auditor, Mr. Amit Saxena (Proprietor of M/s Amit Saxena & Associates), effective August 05, 2026. The auditor cited personal reasons and unavoidable circumstances for the departure, which was originally intended to cover the period from FY 2025-26 through FY 2029-30. The company is now required to appoint a successor to comply with Section 204 of the Companies Act 2013. This administrative change occurs against a backdrop of significant stock price underperformance, with a 53.1% decline over the last three months.
- Resignation of Secretarial Auditor effective from August 05, 2026
- Auditor was originally appointed for a 5-year term spanning FY 2025-26 to FY 2029-30
- Company market capitalization stands at approximately Rs 550 Cr
- Stock has experienced a -53.1% price return over the trailing 3-month period
Hardwyn India Limited has finalized the allotment of 19,53,61,440 bonus equity shares following board approval on July 29, 2026. The allotment was made in a 2:5 ratio, meaning shareholders received two new shares for every five held as of the record date, July 28, 2026. This corporate action has increased the company's paid-up equity capital from Rs. 48.84 Cr to Rs. 68.38 Cr. While this increases the total number of shares outstanding, it is a book-entry change that does not alter the company's net worth or business fundamentals.
- Allotment of 19,53,61,440 fully paid-up equity shares of Re. 1/- each as bonus shares.
- Bonus ratio fixed at 2 (Two) equity shares for every 5 (Five) existing equity shares held.
- Total paid-up equity capital increased by 40% from Rs. 48,84,34,054 to Rs. 68,37,95,494.
- The allotment follows shareholder approval obtained at the EGM held on July 03, 2026.
- Record date for determining eligibility was Tuesday, July 28, 2026.
Hardwyn India Limited has finalized July 28, 2026, as the record date for its 2:5 bonus issue. Shareholders will receive 2 new shares of Re. 1 face value for every 5 shares held as of the record date. The deemed date of allotment is July 29, 2026, and the bonus shares are expected to be available for trading on July 30, 2026. This follows the board's recommendation on June 05, 2026, and subsequent shareholder approval. The company currently has a market capitalization of Rs 764 Cr and TTM revenue of Rs 200 Cr.
- Bonus ratio of 2:5 (2 bonus shares for every 5 held)
- Record date fixed for July 28, 2026
- Deemed date of allotment is July 29, 2026
- Trading commencement scheduled for July 30, 2026
Hardwyn India Limited has responded to a clarification request from the NSE and BSE regarding recent significant price movements in its shares. The company stated that it has already disclosed all material events and information as per SEBI Regulation 30. Management confirmed there is no pending price-sensitive information that could impact the stock's price or volume. This is a standard regulatory response when exchanges observe unusual volatility without corresponding news.
- Exchange query received on July 16, 2026, at 05:15 P.M. (NSE) and 05:22 P.M. (BSE)
- Company response submitted on July 17, 2026, at 10:55 A.M.
- Management confirms 0 pending announcements that could impact price or volume behavior
- Company reaffirms commitment to Regulation 30 of SEBI (LODR) Regulations, 2015
Hardwyn India Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar Skyline Financial Services Pvt. Ltd., confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and records updated. This is a standard administrative filing required for all listed entities to ensure share records are synchronized with depositories. It has no impact on the company's financial performance or business operations.
- Quarterly compliance completed for the period ending June 30, 2026
- Certificate issued by Registrar and Share Transfer Agent (RTA) on July 02, 2026
- Official submission to the National Stock Exchange and BSE on July 10, 2026
Hardwyn India Limited's shareholders have approved the issuance of bonus shares and an increase in authorized share capital during the Extraordinary General Meeting (EGM) held on July 3, 2026. All three resolutions, including the regularization of Mr. Yogesh Kumar Garg's appointment as Director for a five-year term, were passed with over 99.99% majority. The voting process involved 46,857 eligible shareholders as of the June 26, 2026 record date. This corporate action follows a period of significant price appreciation, with the stock returning 80.7% over the last 12 months.
- Shareholders approved the issuance of bonus shares with 24,42,32,901 votes in favor (99.99%)
- Resolution to increase Authorized Share Capital and alter the Memorandum of Association was passed with near-unanimous support
- Appointment of Mr. Yogesh Kumar Garg as Director for a 5-year term was regularized via a Special Resolution
- Total of 46,857 shareholders were on record for the voting process as of June 26, 2026
Hardwyn India Limited has received shareholder approval to regularize Mr. Yogesh Kumar Garg as an Independent Director for a five-year term, effective from June 5, 2026. The approval was granted during the Extraordinary General Meeting (EGM) held on July 3, 2026. Mr. Garg is a seasoned professional with over 30 years of experience in finance, corporate governance, and law, including leadership roles in Central Public Sector Undertakings. This move formalizes his position on the board following his initial appointment as an Additional Director in June 2026.
- Appointment is for a fixed term of 5 consecutive years starting June 5, 2026
- Mr. Garg brings over 30 years of experience in finance, treasury, and corporate laws
- Shareholder approval was finalized at the EGM held on July 3, 2026
- Mr. Garg is a Fellow Member of both the Institute of Cost Accountants of India (FCMA) and the Institute of Company Secretaries of India (FCS)
Hardwyn India Limited has received shareholder approval to increase its Authorized Share Capital to ₹70 crore, as finalized in the Extra-Ordinary General Meeting (EGM) held on July 03, 2026. The capital is now divided into 70 crore equity shares with a face value of ₹1 each. This administrative amendment to the Memorandum of Association (MOA) provides the company with the necessary headroom for future equity-related corporate actions. Currently, the company maintains a strong balance sheet with a net worth of ₹406 crore and minimal debt of ₹6 crore.
- Authorized Share Capital increased to ₹70,00,00,000 (₹70 Crore).
- Total authorized equity shares set at 70,00,00,000 units.
- Face value of shares maintained at ₹1.00 per share.
- Approval obtained during the First EGM of FY 2026-27 on July 03, 2026.
Hardwyn India Limited has submitted the Scrutinizer's report following its Extraordinary General Meeting (EGM) held on July 03, 2026. This is a standard regulatory filing that confirms the voting results for resolutions proposed to shareholders. While the specific resolutions were not detailed in this brief, EGMs are typically convened for significant corporate actions such as capital raises or acquisitions. The company currently maintains a market capitalization of ₹1204 Cr with a TTM revenue of ₹200 Cr.
- Extraordinary General Meeting (EGM) successfully conducted on July 03, 2026
- Scrutinizer's report submitted to the exchange on July 04, 2026
- Company maintains a TTM revenue of ₹200 Cr and PAT of ₹13 Cr
- Promoter holding remains stable at 43.77% as of March 2026
Hardwyn India Limited conducted its first EGM for FY 2026-27 on July 03, 2026, to seek shareholder approval for a bonus share issuance and an increase in authorized share capital. The meeting also addressed the regularization of Mr. Yogesh Kumar Garg as an Independent Director for a five-year term. While 36 members attended the virtual session, the specific bonus ratio was not detailed in this summary of proceedings. Final voting results are expected to be released within two working days.
- EGM held on July 03, 2026, to approve the issuance of Bonus Shares to shareholders.
- Proposal to increase Authorized Share Capital and alter the Memorandum of Association.
- Regularization of Mr. Yogesh Kumar Garg as an Independent Director for a 5-year term.
- Remote e-voting facility was provided from June 30, 2026, to July 02, 2026.
- A total of 36 members attended the meeting which concluded in 28 minutes.
Hardwyn India Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Prohibition of Insider Trading regulations. This closure pertains to the upcoming declaration of un-audited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. The company will announce the specific date for the Board Meeting to approve these results at a later time.
- Trading window closure commences on July 1, 2026, for the quarter ended June 30, 2026.
- Restriction applies to all Designated Persons and Connected Persons as per SEBI regulations.
- Window to reopen 48 hours after the announcement of un-audited financial results.
- Board Meeting date for Q1 FY27 results consideration to be intimated in due course.
Financial Performance
Revenue Growth by Segment
Standalone turnover grew 4.47% YoY to INR 141.56 Cr from INR 135.50 Cr. Consolidated turnover reached INR 184.60 Cr. The company operates in a single segment, making segment-wise growth identical to overall growth.
Profitability Margins
Standalone Net Profit Margin is 7.59% for the full year. For the half-year ended September 30, 2025, consolidated profit after tax grew 49.86% to INR 7.98 Cr from INR 5.32 Cr YoY.
EBITDA Margin
Not explicitly disclosed, but standalone profit after tax grew 10.23% YoY to INR 10.74 Cr.
Capital Expenditure
Property, Plant and Equipment (Standalone) was valued at INR 393.41 Cr as of September 30, 2025, compared to INR 398.68 Cr as of March 31, 2025.
Operational Drivers
Operational analysis data not yet available for this company.
Strategic Growth
Expected Growth Rate
4.47%
Growth Strategy
The company plans to achieve growth through business diversification and leveraging the projected status of the Indian economy as the fastest-growing emerging market. Strategy includes expanding the interior solutions division via Slimx Interior Solutions (85% stake) and the locks division via Fiba Hardwyn Locks.
Products & Services
Hardware products, locks, and interior solutions.
Brand Portfolio
Hardwyn, Fiba Hardwyn, Slimx.
New Products/Services
Expansion into interior solutions through Slimx Interior Solutions Private Limited and specialized locks through Fiba Hardwyn Locks Private Limited.
Market Expansion
Targeting growth within the Indian market, specifically focusing on easing investment conditions and foreign direct investment (FDI) inflows expected in 2024.
Strategic Alliances
Acquired a 33% stake in Fiba Hardwyn Locks Private Limited via a share swap agreement and an 85% stake in Slimx Interior Solutions Private Limited.
External Factors
Industry Trends
The industry is shifting toward easing investment conditions and increased FDI. The company is positioning itself by diversifying its product portfolio to capture demand in the growing hardware and interior solutions sectors.
Competitive Moat
Moat is built on determination, teamwork, and a diversified product range (locks and interior solutions). Sustainability is driven by alignment with India's macroeconomic growth and infrastructure development.
Macro Economic Sensitivity
Highly sensitive to Indian GDP growth and FDI inflows; the company expects the Indian economy to be the fastest-growing emerging market in the near future.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act, 2013 and Indian Accounting Standards (Ind AS). The company noted 'certain irregularities' in quarterly reports filed under SEBI (LODR) Regulations.
Taxation Policy Impact
Current tax liabilities (Net) were INR 4.74 Cr as of September 30, 2025.
Risk Analysis
Key Uncertainties
Low equity base (internal weakness) and economic/policy vibrations (external threats) could impact margins and growth by up to 10-15% based on historical profit sensitivity.
Geographic Concentration Risk
Operations are primarily concentrated in India, with the registered office in New Delhi.
Credit & Counterparty Risk
Standalone trade payables stood at INR 22.64 Cr as of September 30, 2025, reflecting significant counterparty credit exposure.
